Have a Tax Question? Ask a Tax Expert
Hello! I am a CPA here to assist you with your tax questions. My goal is to provide you with excellent service today.
How are you today?
Chances are, if you had taxes withheld from your check, you will not owe any taxes, which is good for you.
Basically, your main concern now shouldn't be the taxes from the 90s, as I assume that issue has already been cleared up. Now, your main concern should be filing your 2011 and 2012 returns
This shouldn't be too difficult. It sounds like you are single, and you probably take the standard deduction as I assume you don't have a house, high medical bills, or pay significant state taxes.
So, you simply get your W-2 information from 2011 and file your 2011 return, make arrangements to pay for any balance that you cannot pay, and then file your 2012 return.
Same deal for 2012- if you owe, simply make payment arrangements.
But I never took care of the issues from the 90s, or filed up to the point when I went to prison. Why would that already be taken care of?
Okay, so you didn't file from 99-06?
Well, you would need to file those returns, because the statute of limitations does not start running until you file a return.
And if you owe tax, you would have to make payment arrangements for that as well.
For the year you don't have the w-2 for, you would need an estimate of what you earned. Don't know how you would do that since the farthest back you can typically get information from the IRS is 3-6 years
I assume that your accountant sent a copy of the 95-96 tax returns in as well?
Okay so your only concern is 99-06 and then 11-12
The year I'm missing was working for a company contracted to NASA but I wasn't a contractor. it should be pretty close to the year before.
Not so bad, if you worked with a W-2 because chances are you do not owe tax. Would be a big deal if you had a small business
You won't get any refunds if you are due refunds for those years. You only have 3 years to claim a refund
Right, and do I still owe for the original problem.
Well, if they assessed tax, they had 10 years to collect that tax.
When did they assess the additional tax?
99, I'm not even worried about refunds lol. JUst want to get back on track and not owe them a bunch from the 90's
Okay if they assessed the additional tax in 1999, they had to 2009 to collect it so now they cannot collect that
But, if you owed for the years that you are just now filing, you would have to pay since the tax is just now assessed
Yes, and that makes me feel a lot better. So should I just take my w-2s from 99 on to an accountant?
Yes, that would be the wise thing to do at this point. So, you're not in as bad as a situation as you thought.
Thank you very much I will definitely get right on this now. I was just very confused about what to do. Again thank you.
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